SPAC Dilution Calculator

Adjust the sliders to see how sponsor promotes, underwriting fees, warrants, and PIPE deals dilute your $10 per share. Most investors don't realize their money is being carved up before the company does anything.

Trust Size ($M)

400

Sponsor Promote (%)

Underwriting Fee (%)

5.5

Warrant Ratio (per unit)

0.33

PIPE Size ($M)

100

How Your $10 Gets Diluted

Starting Value$10.00

Sponsor Promote (20%)$8.00

Underwriting Fee (5.5%)$7.45

Warrant Dilution (33% ratio)$5.89

PIPE Discount ($100M)$5.01

Your $10 Becomes

$5.01

Total Dilution

49.9%

Sponsor Profit

$50.1M

This calculator models structural dilution only. Actual post-merger performance adds additional losses — the average SPAC returns -62% after merger.